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Northeast OH Short Sale Question: What Kind Of hardship Would My Lender Consider Legitimate?

Northeast OH– The type of hardship that your lender will consider legitimate depends on the mortgage company considering the Short Sale request.

In general, so long as the hardship is real & acceptable and the mortgage company believes the loan is likely to become delinquent. As a result, the Short Sale request will be processed by the Loss Mitigation Department.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

A big key to getting your lender to accept a hardship is to submit a strong hardship letter. The hardship letter sets the tone for the entire file.

This letter must be honest and represent the facts clearly. It must prove to them that the situation that caused you to fall behind was temporary and you are now in a position to make your payments on time.

Below are examples of “hardships” that are common and frequently accepted by mortgage lenders.

1. Family illness or injury.

2. Illness or injury in the extended family – particularly if it forces relocation.

3. Job relocation when the property is equity deficient.

4. Job loss or significant income loss.

5. Divorce or split of domestic partners.

6. Adjustment in mortgage payment or unforeseen increase in living expenses.

Your lender will expect you to submit any relevant documentation that supports your claim of hardship. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at iandymorris@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (440) 348-5500

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Northeast OH loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Andy Morris.

Andy is a Real Estate Broker at Realty Trust Services.

Phone: (440) 348-5500 . iandymorris@gmail.com.

View My homes for sale at www.rtserve.com.

Andy Morris specializes in loan modification assistance and short sales in Northeast OH. Northeast OH Modification Help, Northeast OH Short Sales, Northeast OH Short Sale Realtor, Northeast OH Short Sales. Northeast OH Realtor, Northeast OH Stop Foreclosure, Northeast OH Foreclosure Prevention, Prevent Foreclosure Northeast OH, Northeast OH Foreclosure Defense, Northeast OH behind in Payments.

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